Brookstone Capital Management Buys 1,506 Shares of International Business Machines Corporation (NYSE:IBM)

Brookstone Capital Management grew its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 9.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,795 shares of the technology company's stock after buying an additional 1,506 shares during the quarter. Brookstone Capital Management's holdings in International Business Machines were worth $4,425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Catalyst Capital Advisors LLC lifted its stake in shares of International Business Machines by 45.0% during the first quarter. Catalyst Capital Advisors LLC now owns 1,053 shares of the technology company's stock worth $262,000 after purchasing an additional 327 shares in the last quarter. Huntleigh Advisors Inc. grew its holdings in International Business Machines by 20.9% in the 1st quarter. Huntleigh Advisors Inc. now owns 1,564 shares of the technology company's stock worth $389,000 after buying an additional 270 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in International Business Machines in the 1st quarter worth approximately $45,000. IFM Investors Pty Ltd lifted its position in International Business Machines by 9.2% in the first quarter. IFM Investors Pty Ltd now owns 186,464 shares of the technology company's stock worth $46,366,000 after purchasing an additional 15,739 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its position in shares of International Business Machines by 10.6% during the 1st quarter. OneDigital Investment Advisors LLC now owns 28,404 shares of the technology company's stock valued at $7,063,000 after acquiring an additional 2,719 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBM has been the topic of several recent analyst reports. Wedbush boosted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. UBS Group reissued a "sell" rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $257.50.

International Business Machines Price Performance

Shares of NYSE IBM traded down $0.75 during mid-day trading on Tuesday, hitting $291.72. 1,230,148 shares of the stock were exchanged, compared to its average volume of 4,525,534. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The company has a market cap of $271.12 billion, a P/E ratio of 50.21, a PEG ratio of 6.13 and a beta of 0.69. The stock's fifty day simple moving average is $269.48 and its two-hundred day simple moving average is $250.52. International Business Machines Corporation has a twelve month low of $174.45 and a twelve month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business's revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm earned $1.68 earnings per share. As a group, analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.